Consumer Opinions Split on Bitcoin's Future, Survey Reveals

According to Bloomberg, a recent survey has revealed a divide in consumer opinions regarding the future of Bitcoin. The survey, which included over 3,600 participants, found that only 10% of respondents believe Bitcoin will rise above $75,000 by the end of December. This would require a significant increase from its current price, which was approximately $70,700 as of Tuesday morning in London. The survey also found that 40% of respondents are confident about Bitcoin's potential to thrive in the coming years. However, a nearly equal percentage (38%) expect the cryptocurrency to disappear. Less than 1% of respondents considered the possibility of Bitcoin dropping to a level last seen during a deep bear market in 2022, which would mean a decrease of around $50,000 from its current price. Bitcoin has seen a 67% rise this year, outperforming traditional assets. This month, Bitcoin will undergo the so-called 'halving', a four-yearly event that reduces the new supply of the token. Some investors view this as a bullish tailwind. The cryptocurrency reached an all-time high of $73,798 in mid-March. The survey results come amidst a surge of inflows into three-month-old US spot-Bitcoin. 'You’re seeing a lot of continued traction that’s coming into the market because of the upcoming halving,' one respondent commented.